Teekay Tankers Ltd. (TNK) Given Consensus Rating of “Hold” by Analysts
Shares of Teekay Tankers Ltd. (NYSE:TNK) have been given an average rating of “Hold” by the nine brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.34.
Several analysts have recently weighed in on TNK shares. Bank of America Corporation reaffirmed an “underperform” rating and set a $1.80 price target (down previously from $2.25) on shares of Teekay Tankers in a research note on Wednesday, May 17th. ValuEngine downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. UBS AG reaffirmed a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of Teekay Tankers in a research note on Friday, June 9th. BidaskClub downgraded shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th.
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Several institutional investors have recently bought and sold shares of the company. American International Group Inc. raised its stake in shares of Teekay Tankers by 7.0% during the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock valued at $147,000 after acquiring an additional 4,720 shares in the last quarter. Loews Corp increased its holdings in Teekay Tankers by 9.7% during the first quarter. Loews Corp now owns 74,790 shares of the shipping company’s stock valued at $153,000 after buying an additional 6,600 shares during the period. Creative Planning increased its holdings in Teekay Tankers by 7.8% during the second quarter. Creative Planning now owns 98,857 shares of the shipping company’s stock valued at $186,000 after buying an additional 7,173 shares during the period. Nationwide Fund Advisors increased its holdings in Teekay Tankers by 10.4% during the second quarter. Nationwide Fund Advisors now owns 79,553 shares of the shipping company’s stock valued at $150,000 after buying an additional 7,500 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Teekay Tankers by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 393,015 shares of the shipping company’s stock valued at $739,000 after buying an additional 9,066 shares during the period. 39.00% of the stock is owned by hedge funds and other institutional investors.
Teekay Tankers (NYSE TNK) traded down 2.10% on Friday, hitting $1.40. The company’s stock had a trading volume of 696,578 shares. The firm has a 50 day moving average of $1.56 and a 200 day moving average of $1.89. The firm’s market cap is $237.95 million. Teekay Tankers has a 12 month low of $1.37 and a 12 month high of $2.85.
Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $89.40 million during the quarter, compared to the consensus estimate of $80.68 million. Teekay Tankers had a negative net margin of 7.38% and a positive return on equity of 0.39%. The firm’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. Equities research analysts forecast that Teekay Tankers will post ($0.03) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 14th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 8.57%. The ex-dividend date was Thursday, August 10th. Teekay Tankers’s dividend payout ratio is presently -63.16%.
About Teekay Tankers
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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